The Hang Seng Index reversed its downward trend in Hong Kong on Thursday (February 12th), weakening by around 0.9% to around 27,000 after a strong session earlier. This decline halted the momentum of the short term rally, as investors began to reduce risk in large cap stocks. Among the index's contributors, Tencent was a major drag, with its shares falling by around 2.3%, putting pressure on the technology sector, which has recently been a driving force behind market gains. Weakness in large cap companies like this typically quickly impacts sentiment due to their significant weighting in...
Gold price (XAU/USD) maintains its strong bid tone through the first half of the European session on Monday and currently trades near the all-time peak, just below the $3,400 mark. The severe nature of US President Donald Trump's international trade policies has raised the possibility of a US recession, which continues to weigh on investors' sentiment and benefits the safe-haven precious metal. Meanwhile, trump's back-and-forth tariff announcements have dented confidence in the world's largest economy. This, along with the prospects for more aggressive policy easing, drags the US Dollar...
Silver prices rose nearly 1% to around $32.80 per ounce on Monday, bouncing back from the previous session's losses as a weakening US dollar reignited safe-haven demand. The greenback came under pressure amid escalating concerns over US economic policy direction and the independence of the Federal Reserve. Investor anxiety intensified after President Donald Trump threatened to fire Fed Chair Jerome Powell, raising fears of political interference in monetary policy and undermining confidence in the central bank's autonomy. Adding to the risk-off mood were heightened US-China trade tensions,...
The dollar index fell to 98.2 on Monday, the lowest since February 2022, as concerns over the Federal Reserve's independence weighed on the greenback. On Friday, National Economic Council Director Kevin Hassett revealed that President Trump is exploring the possibility of firing Fed Chair Jerome Powell. A day earlier, Trump posted on social media that Powell's removal "cannot come fast enough," while intensifying pressure on the central bank to cut interest rates. Such remarks have fueled worries about the politicization of US monetary policy, potentially undermining the Fed's credibility...
Silver (XAG/USD) attracts some dip-buyers at the start of a new week and touches an intraday high, around the $32.80 region during the Asian session. The white metal, however, remains below the $33.00 mark and a nearly two-week high touched last Thursday, warranting some caution for bullish traders. Silver is widely used in industry, particularly in sectors such as electronics or solar energy, as it has one of the highest electric conductivity of all metals more than Copper and Gold. A surge in demand can increase prices, while a decline tends to lower them. Dynamics in the US, Chinese and...
Oil prices fell more than 1.5% on Monday as investors once again focused on concerns U.S. tariffs on its trading partners will create economic headwinds that will reduce fuel demand growth. Brent crude futures slipped $1.10, or 1.6%, to $66.86 a barrel at 0255 GMT after closing up 3.2% on Thursday. U.S. West Texas Intermediate crude was at $63.57 a barrel, down $1.11, or 1.7%, after settling up 3.54% in the previous session. Thursday was the last settlement day last week because of the Good Friday holiday. "The broader trend remains tilted to the downside, as investors may struggle to find...